Ruth is 51 years old, married and has 10 children, 6 of which are independent and 4 dependent. She has been a member of Edaprospo for 3 years and she has been selling pastries and sweets for the last year. She started her business on the advice and reasoning of a friend who advised her to go ahead with her proposal to start a business of her own and give her children a good education. She has also worked in handicrafts for the last 20 years. Up until now through her hard work and effort, she has managed to build her own house and buy a few things. Currently her income is spent on paying for water and electricity while her husband pays for food. Her plan for the future is to open a grocery store to obtain better profits. She will use the loan to buy goods for her business. Ruth belongs to the communal bank “Las Fundadoras de Miguel Grau” which she has been the president of for the last 4 months. The group consists of 6 people and was established thanks to the visit of one of the analysts.
Ruth de 51 años de edad, es casada y tiene 10 hijos de los cuales 6 ya son independientes y 4 dependientes. Lleva 3 años como socia de Edaprospo y se dedica a la venta de dulces y golosinas con el cual tiene 1 año en este negocio. Comenzó a raíz de la motivación de una amiga quien le aconsejó salir adelante con el propósito de tener un negocio propio y dar una buena educación a sus hijos. También se dedica a la artesanía con el cual lleva 20 años en dicho negocio. Hasta el momento con su esfuerzo y trabajo, ha logrado construir su casa y comprarse algunos artefactos. Actualmente sus ingresos los destina a los gastos de agua y luz, mientras que su esposo cubre los gastos de alimentación. Su plan para el futuro es abrir un negocio de abarrotes en general en donde pueda obtener una mejor rentabilidad. Ella usará el préstamo en la compra de mercadería para su negocio. Ruth pertenece a la alcancía comunal “Las Fundadoras de Miguel Grau” con el cual lleva 4 meses como presidenta del grupo el cual está conformado por 6 personas y que se formó gracias a la visita de uno de los analistas.
EDAPROSPO seeks to use micro-credit to foster productive commercial activity for the sake of economic and social development within vulnerable urban and rural sectors traditionally neglected by commercial banks. By offering innovative products such as technical education loans and microfinance groups for young people, EDAPROSPO helps disadvantaged Peruvians lift themselves out of poverty.
This is a Group Loan
In a group loan, each member of the group receives an individual loan but is part of a larger group of individuals. The group is there to provide support to the members and to provide a system of peer pressure, but groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, members of the group are responsible for paying back the loans of their fellow group members in the case of delinquency or default.
Kiva's Field Partners typically feature one borrower from a group. The loan description, sector, and other attributes for a group loan profile are determined by the featured borrower's loan. The other members of the group are not required to use their loans for the same purpose.